President Bukele suggests set up a bank for Bitcoin investors

President Nayib Bukele of El Salvador has suggested the setting up of a privately operated bank for exclusively addressing the financial requirements of Bitcoin investors. The aim is to make it differ from the services rendered by normal banks.  

According to the Ambassador to the US, Milena Mayorga, as a significant step towards their plans on the economic front, their serious consideration is the setting up of a bank for private investment (BPI), through which it will be possible to introduce multiple opportunities with regards to financing, targeting prospective investors dealing in Bitcoin. 

In the opinion of the Senior Bitcoin Advisor to President Bukele, Max Keiser, the Bitcoin bank concept is President Bukele’s way of telling the world in which direction he intends to take the country.  

The suggestion was made, coming just fourteen days following Bukele being crowned President for yet one more five-year term. 

However, Bukele’s inclination towards Bitcoin has witnessed certain tumultuous times after El Salvador took the initiative of using it in the form of legalized currency in 2021. 

Bukele claimed an immense amount of following due to his clamping down on crime-related groups such as Mara Salvatrucha and Barrio. Now that he is back in the power seat, there is great hope for Bitcoin.